Medicare Video

[frayne]

Good primer on medicare and the various and sundry options.

 

[nun]

This is an informative video, but underlines to me just how complicated US health insurance has become. I remember when my mum retired in the UK....she didin't even think about her health insurance as it stayed exactly the same. She stopped paying the taxes that pay for the NHS when she stopped working, but her doctor, local hospital and everything else stayed the same. The transition from employer or ACA health insurance to Medicare looks like a paperwork nightmare.

 

[MichaelB]

Interesting video, thanks for posting it. I made it through the whole thing. There is a subtle sell for Medicare Advantage over Supplemental, but that's not a surprise given UHC is the content provider.

I'm going through this right now for my brother and would say the challenge is not so much excess paperwork as it is too many options. There is cost and consequence resulting from choosing poorly, especially part D, and it is challenging to easily develop a comparison of plans that includes a clear projection of costs.

 

[nun]

Interesting video, thanks for posting it. I made it through the whole thing. There is a subtle sell for Medicare Advantage over Supplemental, but that's not a surprise given UHC is the content provider.

I'm going through this right now for my brother and would say the challenge is not so much excess paperwork as it is too many options. There is cost and consequence resulting from choosing poorly, especially part D, and it is challenging to easily develop a comparison of plans that includes a clear projection of costs.

I agree. The number of options is confusing and it's really difficult to come up with good comparisons and know exactly what's covered.

 

[frayne]

Like investing, I think one needs a strategy for Medicare. The penalties for not getting on board with part D could hurt you down the line. I'm still in the studying stage but one thing that struck me as kind of beneficial is the ability to change plans during annual open enrollment. But again if you switch from say and Advantage Plan to a Supplement Plan you may have to undergo a physical and have resulting higher premiums. It is truly a convoluted mess but I kind of like to root out the nuances and understand as much as I can prior to making my decision on which way to go.

As a side note I have a neighbor who works at a hospital who certifies people's insurance coverage and she said it is not at all unusual for folks on Medicare to have no idea what they have and what their coverage is. Kind of sad but not that surprising.

 

[kaneohe]

You might find this useful as well : http://www.amazon.com/Medicare-Dumm...pebp=1440605566323&perid=18AZAKW42ZXPH83CF8AK

You might find it at a local library. Been a while since I read it so I don't remember all that it covers but my general impression was that it was quite good.

 

[MichaelB]

But again if you switch from say and Advantage Plan to a Supplement Plan you may have to undergo a physical and have resulting higher premiums.

Medigap policies are only guaranteed issue once, during the initial open enrollment period when you turn 65. After that insurers are not obligated to give you a supplemental policy.

This Medicare brochure on Medigap policies may be useful https://www.medicare.gov/pubs/pdf/02110.pdf

 

[nun]

I'm 11 years from Medicare so I have plenty of time to study, but I've already looked at the plans available to me through my ex-employer and I'd buy a comprehensive plan to supplement Parts A and B that costs $90/month in addition to the PartB premium of $105. I particularly like that it covers me anywhere in the world as I travel a lot.

https://www.unicarestateplan.com/pdf/OMEBrochFY2016.pdf

 

[marko]

After 2 minutes of introductory blah, blah, blah, thank yous and back patting, I gave up. Shut up and get to the point.

I"m havin' a bad day I guess.